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Is public liability insurance compulsory in Australia?

It can get a bit overwhelming when trying to understand all of the different types of insurance available. Depending on your career and lifestyle, certain types of insurance might be more of interest to you. As a company owner, it's important to understand the types of insurance that you should have to protect yourself and your business, and the ones that are required for you to have.

What does public liability insurance do?

Public liability insurance can protect your business against "the risk of causing damage to another person's property" or "the risk of causing injury or death to another person," according to Bluewell Insurance Brokers. The Australian Government allows people to sue businesses that they believe have wronged them through negligence on public liability charges. Having insurance to protect against this could save your business a lot of money in the event that such an accident was to occur.

Is public liability insurance compulsory?

There is no clear-cut yes or no answer to this question, because it depends on the line of work that you are in. As Bluewell noted, businesses required to have public liability insurance are most typically those that are operated under a government-issued licence (including electrical or plumbing contractors), or those that have such requirements imposed by their association or landlord.

If you're unsure whether or not this applies to you, don't fret. Typically, you will be notified of this requirement right away in the form of a contract.

If your business is not required to have public liability insurance, you should consider getting it regardless. This very helpful and protective measure can help you to prevent any potential lawsuits in the case someone gets injured or sick on in circumstances relating to your business. Not only will it put your mind at ease during normal business operations, but if an unfortunate situation or accident occurs, you will also save a large amount of time and money by having cover in place just to be safe.

Have you been injured or gotten sick on public property due to negligence of an individual, business or public entity? Do you believe that you are entitled to compensation? If so, talk to Gerard Malouf and Partners Compensation, Medical Negligence and Will Dispute Lawyers. Our No Win No Fee policy will give you the peace of mind that you need to make an appointment. Contact us today!

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 — Personal Injury Compensation Lawyers

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